Bath & Body Works, Inc. (NYSE:BBWI) Receives $45.06 Consensus PT from Analysts

Bath & Body Works, Inc. (NYSE:BBWI) has been assigned an average recommendation of “Moderate Buy” from the eighteen analysts that are covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $45.06.

BBWI has been the subject of several recent analyst reports. Citigroup upgraded Bath & Body Works from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $40.00 to $48.00 in a research note on Friday, February 28th. Telsey Advisory Group reiterated an “outperform” rating and issued a $43.00 price objective on shares of Bath & Body Works in a report on Thursday, February 27th. Piper Sandler upped their target price on shares of Bath & Body Works from $36.00 to $39.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Barclays reduced their price target on shares of Bath & Body Works from $43.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. Finally, Raymond James restated an “outperform” rating and set a $46.00 price objective (up previously from $42.00) on shares of Bath & Body Works in a research report on Tuesday, February 25th.

Bath & Body Works Price Performance

Shares of Bath & Body Works stock opened at $30.29 on Friday. The stock has a market cap of $6.49 billion, a price-to-earnings ratio of 7.39, a PEG ratio of 0.92 and a beta of 1.89. Bath & Body Works has a 1 year low of $26.21 and a 1 year high of $52.99. The firm’s 50-day moving average is $35.08 and its 200 day moving average is $34.15.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings results on Thursday, February 27th. The company reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.05. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.78 billion. On average, equities analysts expect that Bath & Body Works will post 3.3 EPS for the current fiscal year.

Bath & Body Works declared that its board has approved a share buyback program on Thursday, February 27th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Bath & Body Works Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend was Friday, February 21st. Bath & Body Works’s dividend payout ratio is currently 21.98%.

Institutional Investors Weigh In On Bath & Body Works

A number of institutional investors have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC bought a new position in shares of Bath & Body Works during the fourth quarter worth $26,000. SRS Capital Advisors Inc. boosted its holdings in shares of Bath & Body Works by 99.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 659 shares of the company’s stock valued at $26,000 after purchasing an additional 329 shares during the last quarter. True Wealth Design LLC boosted its holdings in shares of Bath & Body Works by 5,270.0% during the 3rd quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock valued at $34,000 after purchasing an additional 1,054 shares during the last quarter. UMB Bank n.a. grew its position in shares of Bath & Body Works by 58.8% during the fourth quarter. UMB Bank n.a. now owns 905 shares of the company’s stock valued at $35,000 after purchasing an additional 335 shares in the last quarter. Finally, Lindbrook Capital LLC increased its holdings in shares of Bath & Body Works by 81.9% in the fourth quarter. Lindbrook Capital LLC now owns 957 shares of the company’s stock worth $37,000 after purchasing an additional 431 shares during the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

About Bath & Body Works

Bath & Body Works, Inc is a specialty retailers and home to America’s Favorite Fragrances, offering a breadth of exclusive fragrances for the body and home, including the selling collections for fine fragrance mist, body lotion and body cream, 3-wick candles, home fragrance diffusers and liquid hand soap.